25 April 2007

Recent Investments

French conglomerate Schneider Electric has decided to overhaul its operations to prepare for a new international expansion. The company is to establish Barcelona as the base for its new European division, a region representing 35% of Schneider's revenue, or 4.8 billion euros. The division is to include the markets of the Iberian Peninsula, United Kingdom, Ireland, France, Germany, Switzerland, Scandinavia, The Netherlands, Belgium, and Italy.

According to Julio Rodríguez, Schneider's new European Director, Spain has been "an engine for developing countries and it's become a development platform." In 2006, Schneider Spain posted 1.03 billion euros in revenue, with a net income of 66.5 million euros.